Dividing a broad consumer market into distinct subsets of consumers who have common needs, characteristics, or behaviors is known as:

Explanation

* Market Segmentation breaks heterogeneous markets into smaller, homogeneous segments based on geographic, demographic, psychographic, or behavioral variables.
* STP stands for Segmentation, Targeting, and Positioning—the core framework of modern marketing strategy.
* Effective segments must be measurable, accessible, substantial, differentiable, and actionable.